Codexis (NASDAQ:CDXS) – Investment analysts at Jefferies Group boosted their Q2 2018 EPS estimates for shares of Codexis in a research note issued on Monday, April 16th. Jefferies Group analyst B. Couillard now expects that the biotechnology company will earn ($0.09) per share for the quarter, up from their previous forecast of ($0.10). Jefferies Group also issued estimates for Codexis’ FY2018 earnings at ($0.20) EPS.
A number of other brokerages have also recently commented on CDXS. Zacks Investment Research cut Codexis from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. HC Wainwright set a $12.00 price objective on Codexis and gave the company a “buy” rating in a research report on Monday, March 12th. BidaskClub upgraded Codexis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 3rd. Finally, ValuEngine upgraded Codexis from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. Codexis currently has a consensus rating of “Buy” and a consensus price target of $9.75.
Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Thursday, March 8th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $21.70 million during the quarter, compared to the consensus estimate of $22.97 million. Codexis had a negative net margin of 45.97% and a negative return on equity of 103.42%. The business’s revenue was up 117.0% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share.
Several institutional investors have recently made changes to their positions in CDXS. Telemark Asset Management LLC raised its stake in shares of Codexis by 58.5% during the 4th quarter. Telemark Asset Management LLC now owns 3,250,000 shares of the biotechnology company’s stock worth $27,138,000 after purchasing an additional 1,200,000 shares in the last quarter. Wells Fargo & Company MN raised its stake in Codexis by 156.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,002,086 shares of the biotechnology company’s stock valued at $8,367,000 after acquiring an additional 611,289 shares during the period. Royce & Associates LP bought a new stake in Codexis in the 3rd quarter valued at $1,089,000. EAM Investors LLC bought a new stake in Codexis in the 4th quarter valued at $729,000. Finally, Prescott Group Capital Management L.L.C. raised its stake in Codexis by 4.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 2,133,568 shares of the biotechnology company’s stock valued at $17,815,000 after acquiring an additional 86,356 shares during the period. Institutional investors own 65.84% of the company’s stock.
In other news, Director Thomas R. Baruch sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $11.05, for a total transaction of $276,250.00. Following the sale, the director now owns 184,670 shares in the company, valued at approximately $2,040,603.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David V. Smith sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $10.37, for a total value of $62,220.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,337 shares of company stock worth $1,187,683. Company insiders own 9.80% of the company’s stock.
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Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
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